Oil Price Forecast: US gasoline demand to rise as 23 states lift coronavirus restrictions

S&P Global Platts, a provider of energy and commodities information, offered its outlook on the US gasoline demand growth amid easing coronavirus measures.

Key quotes

“Total US gasoline inventories fell, as driving demand surged amid a relaxing of stay-at-home orders.

Roughly 35% of gasoline used is for driving to and from work. So as US workers trickle back to their jobs, May gasoline demand is expected to increase. 

The 23 states that have lifted or let expire stay-at-home orders as of May 6 represent 41 % of US gasoline demand.

Another six states representing 1 1 % of national gasoline demand may start to reopen within two weeks.” 

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